- June 14th, 2022 by
Network marketing is a business model that depends on person-to-person sales by independent representatives, often working from home. A network marketing business may require you to build a network of business partners or salespeople to assist with lead generation and closing sales.
What is network marketing?
Network marketing is a method of marketing that relies on individuals harnessing their personal networks to grow a business or sell a product. These networks are used to generate leads and recruit customers or partners, usually implementing a training and mentorship process for new recruits.
#Types of network marketing
Network marketing can be broken down into three essential categories. These categories are similar in that they call upon individuals to use their personal networks to run their businesses. Through these networks, individuals make sales or recruit others to sell products.
This single-tier marketing system requires an individual to sign up for a program to sell a product or service. Individuals who sign up for these programs do not need to recruit other distributors and are paid only on the direct sales they make.
Direct marketing is the most immediate form of sales. Find a product you like and get your friends and family to buy into it. A few top companies involved in this type of network marketing are Mary Kay cosmetics, Avon cosmetics, and Pampered Chef kitchen supplies.
A newer aspect of network marketing is using online affiliate marketing programs. Website owners and bloggers integrate links to specific products on their platforms. When people click on those links and purchase products, the website owner is rewarded a referral fee. This provides customers with access to a trusted site where they can immediately purchase the products being advertised.
It’s important for those using affiliate links to be transparent about that. A simple disclaimer at the bottom of a blog post fits this purpose and lets your audience know that you’re making money from these links. Amazon’s affiliate program is one of the most well-known, but Partnered and Google’s Affiliate Network are also options.
Those are thousands of affiliate programs out there for both brands and individual individuals can leverage. Be sure to research the most high-paying affiliate programs out there before you join a program.
Multi-level marketing (MLM) is a distribution-based marketing network that includes direct sales and a down-line of distributors. These home businesses tend to get a lot of bad press for their similarity to pyramid schemes. In reality, they have one key difference. Where pyramid schemes require people to invest in a false promise of wealth, MLM organizations sell real products or services that distributors believe in.
Many MLM companies provide a healthy infrastructure and great training, plus extra rewards for high performers. Scentsy, Herbalife, and Advocare are some well-known players in the MLM field.
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